Water Blocking Tapes Market Size, Share & Trends Analysis Report By Conductive Type (Conductive, Semi-conductive, Non-conductive), By Application (Submarine Cable, Power Cable), By Region, And Segment Forecasts, 2024 - 2030

Water Blocking Tapes Market Size & Trends

The global water blocking tapes market size was estimated at USD 408.3 million in 2023 and is projected to grow at a CAGR of 5.1% from 2024 to 2030. The market is expected to be driven by growing stringent regulations and standards regarding cable durability and performance in several industries such as energy and telecommunication. Water blocking tapes offer high-quality protection against water and moisture which comply with industry regulations and standards.

Water blocking tapes find application in a wide range of industries such as telecommunication, power transmission, automotive, construction, and submarine cables. They offer advantages including moisture protection, easy to installation, compatibility with a range of cables, ability to withstand harsh environments, and longer lifespan to cables.

The cable industry is witnessing technological advancement in terms of production techniques and raw materials used. The cable manufacturers are involved in production of higher capacity and more efficient cables. This increases the need for high quality water blocking systems such as water blocking tapes to ensure reliability and superior performance in harsh conditions. Thereby, driving the market growth.

The construction industry is on boom worldwide with increasing urbanization and growing population. This is driving new infrastructure projects such as transportation and construction of smart cities, which further leads to increased demand for cables. This in turn, is expected to propel the market growth, as they help in ensuring reliable communication and establishment of efficient energy distribution systems.

Market Concentration & Characteristics

The market growth stage is medium, and pace of growth is accelerating. The industry is fragmented on account of involvement of many large players with high production capacities. Furthermore, with the increasing demand for the product in various end-use industries is expected to attract new players, thereby, increasing market competition.

The industry is characterized by a high degree of innovation which is driven by requirement for superior performance, cost-effectiveness, and sustainability. The manufacturers are involved in manufacturing the product using many new materials such as absorbent polymers and nanocomposites and sustainable materials such as recycled polymers. In addition, the invention of self-healing water blocking tapes which can repair minor damages itself is further expected to offer new growth opportunities to the market players.

The market has presence of many substitutes for the product such as liquid sealants, heat shrink tubing, costings, waterproof tapes, and resin or wax-based compounds. However, water blocking tapes offer effective and efficient solution for protecting cables from moisture and water. They are opting for wide range of applications on account of its ease of installation and compatibility with various cables.

The water blocking tapes serve a diverse range of end users across various industries such as telecommunication, power transmission, automotive, construction, and submarine cables. Therefore, the end-use concentration is high in the market. Understanding the specific needs of end users along with providing efficient products to the clients are a few of the major factors for the water blocking tapes manufacturers.

Conductive Type Insights

Based on conductive type, the non-conductive led the market with largest revenue share of 41.2% in 2023. This segment is further expected to grow at a significant CAGR over the forecast period, on account of its non-conductive property which helps maintain electrical reliability of the wires and cables. Thereby, reducing the risk of electric failures and short circuits. Furthermore, its compatibility with a wide range of cable types including communication, power, data transmission, and optical fiber cables further increases its demand.

Conductive water blocking tapes are designed in a way that it has the ability to disperse static charge, thereby, preventing the accumulation of static energy in wires and cables. This helps in reducing the risk of electrostatic discharge which damages the cables creating failure and malfunction in electronic equipment and devices. In addition, they can withstand challenging environment conditions such as high temperature and exposure to UV rays and chemicals.

Application Insights

Based on application, the submarine cables segment led the market with the largest revenue share of 29.5% in 2023. These cables utilize water blocking tapes to prevent water intrusion and maintain electrical integrity in harsh environments. Submarine cables are used for offshore wind farms, oil & gas exploration, and underwater communication.

The optical fiber cables segment is expected to witness at the fastest CAGR over the forecast period, on account of rising telecommunication infrastructure across the globe. The rising demand for data connectivity and high-speed internet, the investment in increasing in establishment of telecommunication, which in turn is rising the demand for optical fiber cables. These cables are highly opted for telecommunication network systems in order to transmit data at high speed over long distance. Water blocking tapes are considered a crucial aspect of optical fiber cables to prevent damage from water, thereby, growing demand for optical fiber cables is expected to fuel the market growth.

Regional Insights

The water blocking tapes market in North America accounted with a revenue share of 28.1% in 2023. The region consists of countries with established end-use sectors such as construction, electronics, automotive, and telecommunication which is driving the demand for water blocking tapes in the region over the forecast period.

U.S. Water Blocking Tapes Market Trends

The water blocking tapes market in U.S. is anticipated to grow at the fastest CAGR over the forecast period. The presence of production facilities of major automotive manufacturers such as Ford, Toyota, GM, Nissan, and Chevrolet in the country is expected to positively drive market growth in the U.S. over the coming years. The product is used in wire harnessing of a vehicle for protecting electrical connections for water damage.

The Mexico water blocking tapes market is anticipated to grow at the fastest CAGR over the forecast period. The demand for water blocking tapes in Mexico is growing, owing to the emergence of the country as an automotive manufacturing hub due to its proximity to the U.S. In addition, the country is investing in energy sources by installing wind and solar power systems. This is further expected to contribute to market growth.

Asia Pacific Water Blocking Tapes Market Trends

Asia Pacific dominated the water blocking tapes market with a revenue share of around 38.2% in 2023. The region is further expected to witness at the fastest CAGR over the forecast period, on account of rising investment in energy infrastructure and data and power cable installation at cross-regional level. In addition, the telecommunication industry is growing owing to increasing demand for high-speed internet and rising adoption of smartphones. This is further expected to propel the market growth.

The water blocking tapes market in China accounted for the largest revenue share in Asia Pacific in 2023. The large production base for automotive, especially electric vehicles coupled with rising investment in renewable energy such as wind and solar power plants in the country is further expected to boost the demand for products in the country.

The India water blocking tapes market is anticipated to grow at the fastest CAGR over the forecast period. India being a developing country, witnesses large projects for infrastructure developments such as construction of smart cities, high-speed railway systems, and bridges to further boost economic growth. Water blocking tapes are used in above mentioned projects in order to save wires and cables in infrastructure from moisture, therefore, this is expected to increase the product demand.

Europe Water Blocking Tapes Market Trends

The water blocking tapes market in Europe accounted for a significant revenue share in 2023. The region comprises many developed economies, such as Germany, the UK, Russia, Italy, and France, with well-established construction sectors. Furthermore, the presence of an established automotive sector in the region is further expected to contribute to the product demand over the years.

The Germany water blocking tapes market is anticipated to grow at the fastest CAGR over the forecast period. The demand for products in Germany is driven by presence of strict standards and regulations regarding environmental protection. Water blocking tapes helps in preventing damages to infrastructure by protecting cables and wires from environment impact which reduces the need for further high cost maintenance and repair. In addition, with presence of established and innovative automotive industry, the country is expected to witness the increased for the product.

Middle East & Africa Water Blocking Tapes Market Trends

The water blocking tapes market in Middle East & Africa is expected to grow at a significant CAGR over the forecast period, owing to flourishing construction and automotive end-use industries in the region that are key consumers of the product.

The Saudi Arabia water blocking tapes market is anticipated to grow at the fastest CAGR over the forecast period, due to increasing public and private investment in construction sectors such as Neom City and Red Sea project which will require efficient water blocking systems to protect the infrastructure from water damage.

Central & South America Water Blocking Tapes Market Trends

The water blocking tapes market in Central & South America is anticipated to grow at the fastest CAGR over the forecast period. Increasing investments in the automotive industry and infrastructure development are anticipated to fuel the demand for the product in Central & South America in the coming years.

The Brazil water blocking tapes market is anticipated to grow at the fastest CAGR over the forecast period. The presence of leading automotive and electronic companies in Brazil is anticipated to open new growth avenues for water blocking tapes manufacturers over the forecast period.

Key Water Blocking Tapes Company Insights

Some of the key players operating in market are Chase Corporation, and Gurfil:

• Gurfil is involved in manufacturing of tape and foil products for electronic industry since 1981. The product portfolio of the company is segmented into categories, i.e., foil, film, tapes products; wire products; and machinery products

• Chase Corporation, a specialty chemical company, is involved in manufacturing of protective materials for applications which require high reliability. It operated several manufacturing facilities across Europe, Asia and North America and employee around 800 people

Hanyu Cable Materials, and Ekstel are some of the emerging participants in market.

• Hanyu Cable Materials manufactures tapes which serves cable industry. The company’s product portfolio includes binding WD-1, binding WD-4, semi-conductive shielding, water-blocking, semi-conductive water-blocking, and flame-retardant non-woven tapes

• Ekstel, a company established in 2012 is involved in manufacturing and marketing of several types of tapes including water blocking. It possess state of the art equipment and technology for the production of products

Recent Development

• In July 2023, Chase Corporation entered into a contract which include the acquisition of the company by KKR with USD 1.3 billion (all-cash). The acquisition will help Chase Corporation to achieve future growth by development of new products, opting for several strategies, and serving wide customer ranges with the funds of KKR 

Water Blocking Tapes Market Report Scope

Global Water Blocking Tapes Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the water blocking tapes market report based on conductive type, application, and region:

• Conductive Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Non-conductive

  • Semi-conductive

  • Conductive

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Submarine Cable

  • Power Cable

  • Optical Fiber Cable

  • Communication Cable

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia